Slovenia: Adipic Acid Market 2024

Adipic Acid Market Size in Slovenia

In 2022, the Slovene adipic acid market increased by 6.2% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption showed a abrupt descent. Adipic acid consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Adipic Acid Production in Slovenia

In value terms, adipic acid production declined to $X in 2022 estimated in export price. Overall, production recorded a abrupt curtailment. The growth pace was the most rapid in 2013 when the production volume increased by 67%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Adipic Acid Exports

Exports from Slovenia

In 2022, shipments abroad of adipic acid, its salts and esters decreased by -60.9% to X tons, falling for the second year in a row after two years of growth. Overall, exports saw a noticeable decline. The pace of growth was the most pronounced in 2020 when exports increased by 223%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, adipic acid exports declined dramatically to $X in 2022. In general, exports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 177%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Serbia (X tons) was the main destination for adipic acid exports from Slovenia, with a 67% share of total exports. Moreover, adipic acid exports to Serbia exceeded the volume sent to the second major destination, Croatia (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Serbia amounted to -4.1%.

In value terms, Serbia ($X) and Croatia ($X) appeared to be the largest markets for adipic acid exported from Slovenia worldwide.

Among the main countries of destination, Croatia, with a CAGR of +6.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average adipic acid export price amounted to $X per ton, with an increase of 48% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 55%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Croatia ($X per ton), while the average price for exports to Serbia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+0.4%), while the prices for the other major destinations experienced a decline.

Adipic Acid Imports

Imports into Slovenia

For the third consecutive year, Slovenia recorded decline in overseas purchases of adipic acid, its salts and esters, which decreased by -45.9% to X tons in 2022. Overall, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2015 when imports increased by 25% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, adipic acid imports fell sharply to $X in 2022. Over the period under review, imports saw a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 55% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), France (X tons) and Germany (X tons) were the main suppliers of adipic acid imports to Slovenia, with a combined 87% share of total imports. Italy and Belgium lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +89.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest adipic acid suppliers to Slovenia were China ($X), France ($X) and Germany ($X), together accounting for 86% of total imports. Italy and Belgium lagged somewhat behind, together accounting for a further 13%.

In terms of the main suppliers, Belgium, with a CAGR of +75.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average adipic acid import price stood at $X per ton in 2022, with an increase of 19% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, adipic acid import price increased by +100.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 69%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Italy ($X per ton) and France ($X per ton), while the price for Belgium ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform